PVR slides after weak Q1 results

PVR fell 2.96% to Rs 1,732 at 10:38 IST on BSE after consolidated net profit fell 69% to Rs 16.15 crore on a 26.4% rise in the net sales to Rs 880.39 crore in Q1 June 2019 over Q1 June 2018.

The result was announced after trading hours yesterday, 25 July 2019.

Meanwhile, S&P BSE Sensex was down 88.02 points or 0.23% at 37,742.96.

On BSE, 69,000 shares were traded in PVR counter, compared to a 2-week average of 27,000 shares. The stock hit an intraday high of Rs 1,760.90 and an intraday low of Rs 1,662.95. It hit a 52-week high of Rs 1,833.80 on 20 May 2019 and a 52-week low of Rs 1,084.15 on 26 July 2018.

The firm's adjusted consolidated EBITDA (including the impact of Ind AS 116) has shown an improvement of 102% to Rs 285.35 crore in Q1 June 2019 as against Q1 June 2018. The adjusted consolidated EBITDA margin (including the impact of Ind AS 116) has also jumped to 32.2% from 20.2%.

The financial cost of the company soared by 99% to Rs 131.43 crore in Q1 June 2019 as against this quarter last year. PVR, during regulatory filing, has said that, This includes an amount of Rs 9.71 crore due to accounting adjustment made pursuant to Ind AS-115 for income received in advance with respect to long-term agreement signed by the PVR and SPI Cinemas with online ticketing aggregators."

PVR is a film entertainment company, which is engaged in the motion picture exhibition in cinemas. The company has organized its operations into three business segments: movie exhibition, movie production & distribution and others.

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